MARKET TALK: Profit takers emerge after strong equity rally
Grant Williamson breaks down the week's big market stories on NBR Radio and on demand on MyNBR Radio.
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After pushing the S&P NZX50 index back over 6000 points, investors began taking some profits at the end of last week.
But the local market remains buoyant following a strong October month considering the tough September quarter, Grant Williamson of Hamilton Hindin Greene says.
He told NBR Radio that confidence has returned to the sharemarket, driven by fundamentals, the solid August reporting season and some good numbers coming out annual shareholder meetings recently.
“After a period of volatility driven by offshore sentiment, investors have come back to focus on the fundaments, and the low interest rate environment is driving investors to chase the dividend yield.
“The past couple of days we’re just starting to see some profit takers come back in. But we’ve had 12 or 13 days up there, so we have to experience a bit of profit taking.”
Click on the special NBR Radio feature to listen to Mr Williamson also discuss recent company news and look ahead to this week.
NBR Radio
Mon, 02 Nov 2015
Mon, 02 Nov 2015
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MARKET TALK: Profit takers emerge after strong equity rally
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